Non Recoverable Advances. If the Master Servicer does not make an Advance on the grounds that it is a Non-Recoverable Advance, or if an Advance previously made by the Master Servicer is determined by the Master Servicer to have become a Non-Recoverable Advance, then the Master Servicer shall provide the Trustee with an Officer's Certificate stating this fact and stating the basis upon which the Master Servicer determined that such Advance would be or was a Non-Recoverable Advance. The Trustee shall not be responsible for determining whether any such determination was reasonable.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Union Planters Home Equity Corp), Pooling and Servicing Agreement (Union Planters Mortgage Finance Corp), Pooling and Servicing Agreement (Union Planters Mortgage Finance Corp)
Non Recoverable Advances. If the Master Servicer does not make an Advance on the grounds that it is a Non-Recoverable Advance, or if an Advance previously made by the Master Servicer is determined by the Master Servicer to have become a Non-Recoverable Advance, then the Master Servicer shall provide the Trustee with an Officer's ’s Certificate stating this fact and stating the basis upon which the Master Servicer determined that such Advance would be or was a Non-Recoverable Advance. The Trustee shall not be responsible for determining whether any such determination was reasonable.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Residential Resources Inc)
